Mr. Mike Reinhart reports

QUISITIVE ANNOUNCES CLOSING OF $6.9 MILLION BOUGHT DEAL PUBLIC OFFERING

Quisitive Technology Solutions Inc. has completed its bought deal public offering of common shares of the company for aggregate gross proceeds of approximately $6.9-million. The offering was conducted by Scotiabank and Eight Capital (together, the underwriters), and consisted of the sale of 19.78 million offered shares (including the full exercise of the overallotment option) at a price of 35 cents per offered share.

All of the offered shares issued pursuant to the offering were sold to investors outside of the United States which serves to maintain the company's foreign private issuer status under the United States Securities Act of 1933, as amended. The net proceeds from the offering are expected to be used to partially finance the acquisition of sales residuals held by certain sales representatives of the company, and for general working capital. The impact of the sales residuals purchase is expected to result in an increase in the company's gross margin and EBITDA (earnings before interest, taxes, depreciation and amortization) margin. The transaction is expected to close in July, 2023.

In connection with the completion of the offering, the underwriters received a cash commission of $415,380.

The securities issued pursuant to the offering were qualified for distribution pursuant to the prospectus supplement of the company dated June 23, 2023, filed in each of the provinces and territories of Canada, other than Quebec, and offered and sold elsewhere outside of Canada on a private placement basis, and a short form base shelf prospectus dated Aug. 29, 2022. The prospectus supplement, base shelf prospectus and the documents incorporated by reference therein are available on the company's issuer profile on SEDAR.

About Quisitive Technology Solutions Inc.

Quisitive is a premier, global Microsoft partner that harnesses the Microsoft cloud platform and complementary technologies, including custom solutions and first party offerings, to generate transformational impact for enterprise customers. Its cloud solutions business focuses on helping enterprises move, operate and innovate in the three Microsoft clouds. Its payments solutions division leverages the PayiQ platform powered by Microsoft Azure to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from 17 employee hubs across the world.

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